India

Rs 3 Lakh Crore Collateral-Free Automatic Loans To Revive 45 Lakh MSMEs, Safeguard Jobs: Nirmala Sitharaman

By
OB Bureau

New Delhi: Union Finance Minister Nirmala Sitharaman on Wednesday announced collateral free loans up to Rs 3 lakh crore for MSMEs under the Atmanirbhar Bharat package. It will benefit 45 lakh units.

The Highlights

-Borrowers with up to ₹25 crore outstanding and ₹100 crore eligible for collateral-free automatic loans.

-45 lakh units can resume business activity and safeguard jobs due to relief package

-Subordinate debt schemes for stressed NPAs

-6 major steps for SMEs

-15 measures for EPF, small sector enterprises, MFIs, discoms, contractors, real estate and tax measures.

-Income tax refunds of ₹18,000 crore expedited to improve liquidity

The Finance Minister said that she would release details of the vision which Prime Minister Narendra Modi had  put out on Tuesday (May 12) in the next few days.

She said that Rs 20 lakh crore package will focus on strengthening the local brands.

It will be based on five factors of growth, economy, infrastructure, technology-driven systems, demography demand and will be channelized via land, labour, liquidity and law bringing relief to the distressed economy, she said.

“The Atmanirbhar Bharat Mission is not an attempt to isolate India but it talks about a confident India which can rest on its strengths and be able to contribute to the world,” the Union Minister added.

OB Bureau

Recent Posts

Is Priyanka Chopra Hinting At ‘Citadel’ Crossover With Samantha & Varun?

New Delhi: Actress Priyanka Chopra’s recent Instagram post has sparked speculation about a possible crossover…

November 22, 2024

Odisha Pulmonologist Narayan Mishra Gets National Award

Berhampur: Renowned pulmonologist of Odisha Dr Narayan Mishra honoured with the prestigious ‘Indian Chest Society-Lifetime…

November 22, 2024

2 Missing After Indian Navy Submarine Collides With Fishing Vessel; Massive Search Operation Underway

Mumbai: Two crew members of a fishing vessel have been missing since it collided with…

November 22, 2024

[Watch] Jawans Dance & Celebrate After Eliminating 10 Maoists In Chhattisgarh

Raipur: In a major operation, security forces eliminated at least 10 Maoists in an encounter in…

November 22, 2024

SOA Hosts International Conference On Materials For Circular Economy & Technology In Bhubaneswar

Bhubaneswar: Experts from across India and abroad exchanged knowledge and ideas on latest developments in…

November 22, 2024

Why Likes Of Odisha BJP MLA Prakash Sethi Are Here To Stay

Cuttack Sadar MLA Prakash Sethi's English speech at Bali Jatra inauguration has gone Viral......the caption…

November 22, 2024

BJP-BJD War Of Words In Odisha Over Honouring Harekrushna Mahtab & Other Visionary Leaders

Bhubaneswar: A day after 125th birth anniversary celebration of Harekrushna Mahtab was inaugurated, a war…

November 22, 2024

India 150, Australia 67/7: Bumrah (4/17) Leads Stunning Day 1 Comeback In 1st Test

Perth: A more sensational script couldn’t have been written for the opening day of the…

November 22, 2024